Casinos.co.uk: Casino News Archive
Wednesday 7th July 2004
Cantor’s Spreadfair.com out performing Cantor Sports
The latest Cantor product, Spreadfair.com, has been a huge success since its launch in June. The site was launched to a select group of existing cantor customers, and is now enjoying more transactions than the existing Cantor product- Cantor Sports. The spread betting system allows gamblers to set their own prices if they choose not to accept the prices offered on the exchange. Like other popular betting exchange sites it also allows visitors to bet against each other.
Spreadfair is the first online betting exchange to be regulated by the FSA- Financial Services Authority, and can offer its pundits better value as there is no bookmaker margin to pay- as there is no bookmaker setting the prices. The revenue that Cantor earns for activity on the site, is through a commission set at a maximum of 5percent- the exact percentage being dependant on how high the bets being staked are.
Cantor has recently added new markets to the site-including the current one-day international cricket series between England, New Zealand and the West Indies. Future additions include golf in time for the British Open on the 15th of this month, and Formula One which will be launched in time for the British Grand Prix- on the 11th July. Currently there is no option available for betting on horse racing through the spreadfair site, however MD of Cantor Lewis Findlay released the following statement on this topic-'Cantor Index is an avid supporter of horseracing, sponsoring over 300 races since 2001, and believes in principle in exchange betting for the sport. We look forward to the time when the advantages of betting exchanges are clarified and more widely acknowledged in terms of revenue and growth potential
for the racing industry as a whole, making it a logical time to introduce horse racing on Cantor Spreadfair.'
Findlay also added comments about the spreadfair site as a whole- explaining his hopes for the site, as well as explaining where he believes its strengths lie: 'Cantor Spreadfair will revolutionise the spread betting industry in the same way that fixed odds exchanges have revolutionised traditional odds betting. We are proud to be offering an innovation in betting that will capture the imagination of both the spread betting and betting exchange communities. We expect Cantor Spreadfair to have the tightest spreads in the entire industry by a distance; something that can't help but appeal to the discerning spread bettor.'
Source:OnlineCasinoNews
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